Closing Range - 19395/19628
Extended range - 19311/19712
Nifty again closed with a low volume and an indecision candle just above the downward channel. There is some kind of support zone at 19460-19520. If this is broken on the down side, we can easily see 19400 or lower lower levels. Upside has resistane at 19655.
Possible trade can be a no trade! Compulsive traders can take trade in corresponding directin if Nifty crosses high/low of the day's candle of 9th Oct. Keep strict SL maintaint a risk reward ratio of 1:2.
P.S. - 0.5%-1% return on capital can be considered good in intraday.
Extended range - 19311/19712
Nifty again closed with a low volume and an indecision candle just above the downward channel. There is some kind of support zone at 19460-19520. If this is broken on the down side, we can easily see 19400 or lower lower levels. Upside has resistane at 19655.
Possible trade can be a no trade! Compulsive traders can take trade in corresponding directin if Nifty crosses high/low of the day's candle of 9th Oct. Keep strict SL maintaint a risk reward ratio of 1:2.
P.S. - 0.5%-1% return on capital can be considered good in intraday.
Trade closed: target reached:
Nifty took resistance exactly from the upper edge of the extended range.